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Vindication for Tatas

Another legal battle over stake valuation must be avoided

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Tata vs Mistry | Tata Sons | Cyrus Mistry

Business Standard Editorial Comment  |  New Delhi 



The Supreme Court’s verdict on Friday upholding the position of the Tatas brought the curtains down on one of the ugliest wars in India. It was no doubt a comprehensive victory for the Tata group, as the court allowed all its appeals and upheld the right of a majority shareholder to make appointments to key managerial and leadership positions. The apex court’s scathing criticism of the Mistrys should be music to the ears of the Tatas. Among other things, the court accused of “trying to set his own house on fire” as chairman and observed that such a person “does not deserve to continue as part of any decision-making body”. That there is enough merit in the judgment is evident from the court’s observation that the accusation of oppression of minority shareholders does not hold water in this case. That’s because Mr Mistry, a representative of the SP group with a little over 18 per cent stake, moved up to the topmost position within six years of his induction into the board. However, the best part of the judgment was that it put an end to the possibility of disruption and dysfunction in one of the country’s largest business groups.

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First Published: Sun, March 28 2021. 23:16 IST

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